Legal Question in Real Estate Law in New Jersey

Calendar Days vs. Business Days in Agreement of Sale

On the NJ standard real estate contract, the attorney review period is described as the first three days and specifically counts the 3 days from delivery of the signed contract, not counting Sautrdays, Sundays and legal holidays. However, in secton 20C, buyer's rights to inspection, it says the inspection must be done and written report to seller and broker within 10 calendar days of the end of the attorney review period. I understand calendar days to mean INCLUDING weekends. How is it meant in this standard contract? Our agreement was signed on the 16th. The inspection was done on the 27th and as of the 30th, there is no written report. Is this contingency therefore 'waived'? Thank you.


Asked on 3/31/04, 12:08 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Calendar Days vs. Business Days in Agreement of Sale

You had 10 days from the end of attorney review, which is usually agreed upon by the attorneys after they have reviewed and commented on the opriginal contract. Sometimes that may take more than 3 days, as the 3 days are the time period for the attorneys to present their comments. I suggest you contact your attorney and find out when the attorney review period actually ended, as that date starts the inspection period time frame. If you have not received the report, but the inspection has taken place, have your attorney request an extension of time to get the report. This should be granted, especially if there were any problems noted at the inspection.

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Answered on 4/04/04, 2:06 pm


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